What’s the value of title protection to you as a Financial Planner or Financial Advisor?
As a financial services professional, you can have confidence in knowing that FSRA’s title protection framework is promoting consistency, professionalism, and credibility among your colleagues and the general public.
The framework will also provide credibility to title users as there are minimum educational requirements and active supervision to help weed out bad actors.
What titles can you use
When you can start using the titles
How to obtain a credential to use the titles
What titles can you use?
The Financial Planner and Financial Advisor titles are now protected in Ontario under the Financial Professionals Title Protection Act, 2019. You must have an approved credential to start, or continue, to use these titles, including those that can be reasonably confused with the Financial Planner or Financial Advisor title, in the province.
Here are examples of titles that could reasonably be confused with the Financial Planner title:
- any variation in spelling or abbreviation of Financial Planner (e.g. FP)
- ________ Financial Planner (e.g. Senior Financial Planner, Qualified Financial Planner, etc.)
- Financial ________Planner (e.g. Financial Wealth Planner, Financial Investments Planner, etc.)
- Financial Planner _________ (e.g. Financial Planner Investments)
- Financial Planning _________ (Advisor, Adviser, Coach, Consultant, Counsellor, Guru, Manager, etc.)
- any variation of the above titles in another language
To ensure continued consumer protection, FSRA will monitor the market for any changes in title use brought about by implementing the title protection framework.
Examples of titles that could reasonably be confused with the FA title
- any variation of spelling or abbreviation of Financial Advisor (e.g. Financial Adviser, FA)
- ________ Financial Advisor (e.g. Senior Financial Advisor, Qualified Financial Advisor, etc.)
- Financial ________Advisor/Adviser (e.g. Financial Wealth Advisor/Adviser, Financial Investments Advisor/Adviser, etc.)
- Financial Advisor _________ (e.g. Financial Advisor Investments)
- Financial Advising ________ (Coach, Consultant, Counsellor, Guru, Manager, etc.)
- any variation of the above titles in another language
When you can start using the titles
The transition provisions under the Financial Professionals Title Protection Framework provides a window for title users to determine whether their existing credential has been approved by FSRA.
The transitions provisions also allow individuals who were already using the Financial Planner or Financial Advisor titles on or before January 1, 2020, time to obtain an approved credential.
The transitions provisions also allow individuals who were already using the Financial Planner or Financial Advisor titles on or before January 1, 2020, time to obtain an approved credential.
- Financial Planner (FP): Four (4) years from the date the Financial Professional Title Protection (FPTP) Rule came into force on March 28, 2022.
- Financial Advisor (FA): Two (2) years from the date the Financial Professional Title Protection (FPTP) Rule came into force on March 28, 2022.
Those who began using the Financial Planner (FP) or Financial Advisor (FA) titles after January 1, 2020, will only be permitted to continue using the titles if they have obtained a FSRA-approved FP/FA credential.
Please see the following flow chart to determine if you are able to currently use the Financial Planner or Financial Advisor title:
How to obtain a credential to use the
Financial Planner or Financial Advisor title
The following entities are approved by FSRA as credentialing bodies under the title protection framework to offer approved Financial Planner and Financial Advisor credentials in Ontario.
|
Credentialing Body |
Approved Credential |
Permitted Title(s) |
|---|---|---|
|
Certified Financial Planner® Certification (CFP® Certification) |
Financial Planner (FP) |
|
|
Qualified Associate Financial Planner™ Certification (QAFP™ Certification) |
Financial Planner (FP) |
|
|
Canadian Securities Institute (CSI) |
Financial Planner (FP) |
|
|
Financial Advisor (FA) |
||
|
Institute for Advanced Financial Education (IAFE) |
Financial Planner (FP) |
|
|
Financial Advisor (FA) |
||
|
Financial Planner (FP) |
||
|
Financial Advisor (FA) |
||
|
Financial Advisor (FA) |
Please visit FSRA’s Financial Planners and Financial Advisors Industry page for more information.
Text description of image titled "Were you using the Financial Planner (FP) or Financial Advisor (FA) title on or before January 1, 2020?"
Yes? Do you currently hold a FSRA-approved credential from an approved Credentialing Body?
Yes? You can continue to use the title associated with the approved credential
No? You can continue to use the titles during the transition periods (4 years for Financial Planner and 2 years for Financial Advisor)
What happens at the end of the transition periods?
You can continue to use the titles ONLY if you have obtained a FSRA-approved credential from an approved Credentialing Body
Cease using the titles immediately if you have not obtained a FSRA-approved credential from an approved Credentialing Body
No? Do you currently hold a FSRA-approved credential from an approved Credentialing Body?
Yes? You can continue to use the title associated with the approved credential
No? You cannot use the Financial Planner / Financial Advisor titles